“The European Commission unveiled quotas under the new system to limit duty-free steel imports into the EU, in a move designed to protect the bloc’s steel sector and increase its capacity utilisation. Under the new rules, the European Union’s annual tariff-free import quotas are slashed by 47% to 18.3 million metric tons, while an out-of-quota duty of 50% is introduced for 26 categories of steel products imported into the EU.” (06/30/26)
Source: Foundation for Economic Education
by Daniel J Mitchell
“Recently, members of the Trump administration found themselves in a tug of war between two groups of people who have opposing views about how or whether the federal government should regulate artificial intelligence. Critics say that moving too fast on AI could create risks. Others say that America can’t compete against China under a tight regulatory regime. We are, after all, competing in one of the most important technological races of the 21st century. But the fundamental question is much bigger than AI. Whether it is regulatory debates centered around tech, housing, energy, or healthcare, American policymakers should start each policy debate by asking themselves one important question: How much progress must we sacrifice for the sake of caution?” (06/30/26)
“The European Union presents itself to the world as the gold standard of regulated, enlightened governance. Nowhere is the gap between that self-image and reality more vivid than in its management, or rather mismanagement, of the seas. The Common Fisheries Policy, now over four decades old, stands as one of the more instructive monuments to what happens when a bureaucratic cartel manages a commons. Everyone takes as much as they can, the resource collapses, and Brussels announces a new action plan.” (06/30/26)
“The Supreme Court announced Tuesday that it will decide whether cities and states may ban people from owning AR-15 rifles and similar semi-automatic weapons, taking up a major Second Amendment dispute that it had previously declined to address. One of the appeals involving certain semi-automatic rifles came from two Illinois residents who want to purchase AR-15 style rifles but are blocked from doing so by an ordinance in Cook County that makes it unlawful to sell or possess any ‘assault weapon [sic] or large capacity magazine,’ specifically listing dozens of models that were off limits. Ten states have similar bans in place, according to the [victim disarmament] group Everytown for Gun Safety.” (06/30/26)
“Eric Peters from Eric Peters Autos joins me to talk about our upcoming Independence Day celebration, what it represents and why so few people seem to remember its basis.” (06/30/26)
“Americans of all persuasions routinely join and support groups — typically organized as corporations — to achieve their various goals, including political ones. However, critics of the Supreme Court’s 2010 decision in Citizens United v. Federal Election Commission, which upheld the rights of corporations to spend money in support of political causes, insist the decision ‘corrupted’ American democracy. Hawaii has now taken the campaign against Citizens United to its logical endpoint. In May, the state enacted Act 11, a sweeping law designed to strip most incorporated organizations of the ability to engage in election- or ballot-related advocacy. Any corporations that spend money on such efforts could be suspended or dissolved. This new law is not evenhanded. Act 11 exempts newspapers, broadcasters and periodicals. These institutional media corporations retain full First Amendment rights while most other organizations lose theirs, making the government the arbiter of which corporations deserve a voice.” (06/30/26)
“Italian police on Tuesday arrested four people suspected of carrying out an October bomb attack targeting a prominent journalist who had been threatened by the mafia. The blast in a residential neighborhood of Pomezia, about 12 miles south of Rome, destroyed two cars belonging to Sigfrido Ranucci, known for investigations into corruption and the mafia. Ranucci had just returned home at the time, and his daughter had walked by a half-hour before, his employer said at the time. … The explosion targeting Ranucci occurred on the eighth anniversary of the car bomb slaying of Maltese investigative journalist Daphne Caruana Galizia, who wrote extensively about suspected corruption in political and business circles. Like Ranucci, she had faced dozens of libel suits intended to silence her reporting.” (06/30/26)
“If you’ve spent time traveling the Third World—or Japan—you’ve seen them: tiny pickup trucks, built for cargo, hauling lumber, produce, construction materials, or even groups of workers. They’re ubiquitous in developing countries because they’re inexpensive, fuel-efficient, and well-suited for certain types of work. Yet for decades they’ve been largely absent from U.S. roads. That’s a shame, because the humble Japanese kei truck represents the kind of practical vehicle that would benefit Americans. … The reason Americans rarely see kei trucks has to do with regulation, not lack of demand.” (06/30/26)
“Tom Kean Jr, a Republican congressman who disappeared from the Capitol for nearly four months with little explanation, re-emerged on Tuesday and said that he was absent while dealing with depression. ‘Several months ago, due to health concerns, I entered the hospital for some testing. I did not believe that this would result in a long-term stay. I was given the diagnosis of depression,’ Kean said in a speech on the floor of the House Tuesday morning. Kean, who represents a swing district in New Jersey, had last voted on 5 March before disappearing, with his office in late April saying only that he was dealing with a ‘personal health matter’ and would be back ‘soon.'” (06/30/26)
